Money Transfers To New Zealand

Money Transfers To New Zealand
For those with bank accounts in both their country of origin and New Zealand, the transfer of funds is straightforward and fast, activated mostly by phone or online banking facilities. Due to fluctuations in currency exchange rates, many immigrants choose to route their transfers through specialised foreign exchange brokerage websites such as www.transfermate.com, which offers favourable exchange rates over and above those normally offered in more conventional channels such as banks.

Another such company, www.tranzfers.com, offers similar facilities on a two- to four-day transfer and also offers a secure transfer of money to most New Zealand credit cards from the migrant's overseas bank account. One of the biggest players in this field, www.xe.com, will send any amount denominated in NZ$ to you or another named individual who has a bank account in the country. Their services are slightly slower, but their exchange rates are normally excellent.

An old favourite, Western Union, deals with cash pay-ins and pay-outs across more than 200 world countries, and is useful for those just arrived with no time to arrange a bank account as well as for family–to-family cash transfers. The company has a Gold Card service for New Zealanders who are regular users, including insurance coverage, retail shopping discounts and the ability to transfer money from their credit or debit cards to worldwide destinations via the Western Union website at www.westernunion.co.nz.

Another way is by PayPal, who advertise low fees and immediate transfers from your credit or debit card to the recipient with instructions given either online or via your mobile phone. The recipient will receive an email or text message saying the money is available, but must either have or immediately sign up for a PayPal account to be able to transfer the funds to a personal bank account. Given PayPal's exchange rates, perhaps this is the option of last resort unless the recipient wishes to spend the funds online. A quick search of user reviews is recommended.